TransferMate, a Dublin, Ireland-based provider of a B2B payments infrastructure as-a-service, raised $70M in funding at $1BN valuation.
Railpen, one of the UK’s largest and longest established pension funds whose Fintech investments include Starling Bank and Bill.com, participated in the round.
The company intends to use the funds to expand its teams globally and further invest in its technology innovation and product suite.
Led by CEO Sinead Fitzmaurice, and Founder Terry Clune, TransferMate – a subsidiary of CluneTech — is a provider of B2B payments infrastructure as a service, enabling companies to send and receive cross-border payments. It allows businesses and individuals to make cross-border payments in more than 201 countries and 141 currencies, with transparency of the transaction through to the point of final reconciliation. The company has created integrations for banks like ING and AIB, who are also investors. The API solution allows partners to digitalise the payments flow within their software, enabling all businesses to achieve time and financial savings.
FinSMEs
23/05/2022